Friday, 4 August 2017

EPIC RESEARCH NCDEX CRUDE PALM OIL UPDATE OF 04 AUGUST 2017

CPO trading range for the day is 470.9-490.5.Crude palm oil dropped tracking weakness in spot demand after prices seen supported due to consideration of raising import duty.During the first 8 months of current oil year, the imports are higher by 5.7% to 59.21 lt compared to 56 lt last year same period.The US Department of Agriculture's Jakarta arm has estimated Indonesian palm oil production in 2017-18 (Oct-Sep) at 36.5 mln tn.Crude palm oil prices in spot market dropped by 5.50 rupees and settled at 481.60 rupees.